Well， the day we offer stock for sale is the day we will see how much______there is in our company.

But Jerry, have you really thought this ______？ You would essentially be giving up the company that your great-grandfather built.

—But then we' ll have to accept a Board of Directors chosen by our stockholders. Wouldn' t that limit us in many ways？ —Certainly. But if you consider the massive capital investment that we' ll receive, you' ll understand that this could take our company —————— .

Can you tell us why you think this makes good business ______to you？

—Can you tell us why you think this makes good business sense to you？ —We' ve been doing quite well on our own and we could probably survive like this for quite a few more years to come, but if we really want to take it to the next level, ____________.

His ideas are linked to the theory________markets are efficient, which means market actors taking all available information to create the correct price for things at any given time.

His method supports Mr Shiller' s findings and has ________efforts to predict prices in the financial industry.

If people ________we' re very valuable they won' t buy our stock.

Okay, let' s say we make a decision _____； what kind of price are we thinking about charging for our stock？

—Okay, what is the decision？ —As you know, we have been a privately held, family-owned company for over 120 years, _____________.

One kind of partnership is called a limited ________partnership.

The proprietor owns all of the property of the business and is responsible ________ everything.

The same is true ______individual proprietorships.

—We' ve done very well so far but if we want to see serious growth ______________. —Yeah. . . maybe. But I have my doubts.

—You mean. . . like becoming a publicly-traded company？ —That' s right. ______________ .

Not all corporations are traditional businesses that sell stock. {A； B； C}

But don' t forget, some of those companies made a killing. {A； B； C}

I don' t think there' s a lot of appetite for adventure in the market right now. {A； B； C}

I see our company as entering a transitory period. {A； B； C}

We simply don' t have the funds to make any serious investments towards obtaining a biggermarket share. {A； B； C}

ALIBABA SEEKS TO RAISE BILLIONS IN IPO Investors in the United States are preparing for the first public sale of stock in the Chinese company Alibaba. The company sells goods { } linking buyers and sellers in the huge Chinese online market. Alibaba is expected to { } its initial public offering, called an IPO, in September on the New York Stock Exchange. The total value of the company, based in Hangzhou, has been estimated at about $200 billion. Reports from Bloomberg News say Alibaba is offering investors a 12 percent { } of the company. That would mean the company could raise { } $20 billion dollars in the public stock sale. After the IPO, Alibaba could become one of the most { } technology companies in the world. Apple, for example, has a market value of about $600 billion. Google is valued at about $390 billion and Microsoft is worth about $370 billion.

THREE AMERICANS WIN NOBEL ECONOMICS PRIZE The Royal Swedish Academy of Sciences awarded the Nobel Prize in economics to three Americans, Eugene Fama, Lars Peter Hansen and Robert Shiller on Oct. 14, 2013. Eugene Fama and Lars Peter Hansen are both professors at the University of Chicago. Robert Shiller is a professor at Yale University. They will share the prize worth about 1. 2 million dollars. This year' s prize in economic sciences is about predictions. All three of this year' s prize winners are mainly known for their research and explanations of pricing forces in financial markets. They have had a big influence on the way people look at and talk about financial markets. Eugene Fama' s research on financial markets in the 1960s led market watchers to change their ideas about investing. His ideas are linked to the theory that markets are efficient, which means market actors taking all available information to create the correct price for things at any given time. This also means that over short periods of time, it is not possible to predict prices. Robert Shiller found, however, that over long periods, the opposite is true. It is possible to predict the movement of prices and that price changes are linked to human behavior. The findings of both economists have led to the growth of index funds, investing many different securities as a way to reduce risk. Mr Shiller also helped to create the Standard & Poor' s Case-Shiller home prices index. That index follows home prices across the United States. Lars Peter Hansen developed a method for studying historical pricing information. His method supports Mr Shiller' s findings and has influenced efforts to predict prices in the financial industry. The Nobel Prize in economics was not created by Alfred Nobel, but was established in his memory by Sweden' s central bank in 1968. 1. The Royal Swedish Academy of Sciences awarded the Nobel Prize in electronics to three Americans on Oct. 14, 2013.

Eugene Fama, Lars Peter Hansen and Robert Shiller won the prize for their research and explanations of pricing forces in financial markets.

Eugene Fama' s research on financial markets in the 1960s resulted in some change in how market watchers look at investing.

The findings of both economists have led to the growth of price prediction, investing many different securities as a way to reduce risk.

The Nobel Prize in economics was established in memory of Alfred Nobel by Sweden' s central bank in

ORGANIZING A BUSINESS IN DIFFERENT WAYS Businesses are structured in different ways to meet different needs. The simplest form of business is called an individual or sole proprietorship. The proprietor owns all of the property of the business and is responsible for everything. Another kind of business is a partnership. Two or more people go into business together. An agreement is usually needed to decide how much of the partnership each person controls. One kind of partnership is called a limited liability partnership. These have full partners and limited partners. Limited partners may not share as much in the profits, but they also have less responsibility for the business. Doctors, lawyers and accountants often form partnerships to share their risks and profits. A husband and wife can form a business partnership together. Partnerships exist only for as long as the owners remain alive. The same is true of individual proprietorships. But corporations are designed to have an unlimited lifetime. A corporation is the most complex kind of business organization. Corporations can sell stock as a way to raise money. Stocks represent shares of ownership in a company. Investors who buy stock can trade their shares or keep them as long as the company is in business. A corporation is recognized as an entity—its own legal being, separate from its owners. A board of directors controls corporate policies. The directors appoint top company officers. The directors might or might not hold shares in the corporation. Corporations can have a few major shareholders, or ownership can be spread among the general public. But not all corporations are traditional businesses that sell stock. Some non-profit groups are also organized as corporations. 1. This passage is mainly about {A； B； C} .

What is usually needed to decide the portion of the partnership each person controls？

Who are not included in limited liability partnerships？ {A； B； C}

How can corporations raise money？ {A； B； C}

Who controls corporate policies in a corporation？ {A； B； C}

______it may lead to, they always pursue the profit maximization.

A healthy diet should contain all the necessary______.

—How can people avoid food contamination nowadays？ —_______________________________________.

—I’d like to have credit information about my corporate partner in Australia.—_______________________________________.

It assures that you are dealing with a ______ business partner.

Nowadays, more and more attention is being paid ______ Business Ethics.

The only thing for you ______ is to fill in a form and sign it.

—What do I have to do to get the credit information of our corporate partner？ —_______________________________________.

—What should a healthy diet contain？ —_______________________________________.

—Why does food contamination seem to occur so frequently these days？ —_______________________________________.

Could you please confirm that they have sufficient funds to cover this amount of order？

Events resulting from a loss of trust are being seen now and then and they affect society in many unfortunate ways.

Many people know the importance of business ethics, but still some people don’t keep to it.

The food manufacturers are so obsessed with making money that they often lose their business ethics.

People can’t bear this kind of behavior and the businesses responsible must be closed down immediately.

BUSINESS ETHICS Nowadays, more and more attention is being paid to Business Ethics.But what does it mean？ What is the importance of ethics in business？ Business ethics is not about personality, though a good personality is valuable.Ethics is the primary element and prerequisite for a successful business.No matter what you do, you should think of business as a matter of integrity.Nowadays, the slip in ethics and the absence of social responsibility, especially integrity, have led to a crisis in business, seriously influencing social development.Events resulting from a loss of trust are being seen now and then and they affect society in many unfortunate ways.Most people know the importance of business ethics, but still some people don’t honor them.We often hear media reports on problems in business, such as adding harmful materials to products.These behaviors cause much damage to consumers, who spend money but do not get quality goods, especially when these modities do great harm to their health.It is difficult for people to forget the case in which some children consumed unsafe milk powder produced by a few immoral businesses, and their health suffered serious damage as a result.People can’t bear this kind of behavior and the businesses responsible must be closed down and the related personnel be punished. 1. What’s the primary ponent for a prosperous business？

What is the influence of losing integrity？

What is people’s attitude towards business ethics？

Which one among the following items is not mentioned in this passage？

What is the author’s attitude toward immoral behaviors in business？